Why Is Capitalism Better Than Communism

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Capitalism vs. Communism
To compare communism and capitalism is not a simple task as these two economic strategies and ideologies differ entirely. The United State of America is a Capitalist society and we have fought against Communist countries for a long time, even going so far as passing the Communist Control Act of 1954, which was signed into law by President Eisenhower. The United State’s opposition to communism stems largely from the fear of how communist ideologies could hurt us as a global economy. The Republic of China, Cuba, Vietnam, Laos, and most significantly, North Korea, are communist countries. However, most countries today are capitalist countries.
As Karl Marx said in The Communist Manifesto, “under communism, one person …show more content…

Capitalism can be defined as an economic and political system in which a country’s trade and industry are controlled by individual private owners for personal gain or profit, rather than by the state. The everyday freedoms we so greatly take for granted are allowed because we are a capitalist country. For example, the ability to invest or make a purchase with the intention of selling it for personal gain is allowed by capitalism. With the freedoms granted under capitalism, individuals have an incentive to make more money and a means by which a person is able to make more money. This means members of a society will be constantly trying to come up with, invent, or create new ways to better that society. However, Marx also sees capitalism as “a system that concentrates wealth and power in the hands of a small minority, creates huge pools of poverty, turns life into a daily grind that prevents most people from fulfilling their potential, and experiences frequent and enormously wasteful economic crises” (10). Where communism sheds light on the differences and allows others to see how that divide can be solved, capitalism emphasizes the divide and continues to allow that difference between these groups within the society until it becomes increasingly detrimental to the

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